Islamabad, March 7,2026: The leadership of the Islamabad Chamber of Commerce and Industry has expressed strong concern over the Rs. 55 per litre increase in petroleum prices, terming the decision highly detrimental to trade and industry and warning that it may trigger a fresh wave of inflation across the country.
President Sardar Tahir Mehmood said that such a sharp increase in petroleum prices would directly raise production costs, transportation charges, and overall operational expenses for businesses, making it increasingly difficult for industries and traders to sustain their activities. He added that Pakistan’s economy is already facing multiple economic challenges and pressures, and the latest hike in fuel prices would further aggravate the situation.
He stated that placing the entire burden of rising international oil prices on the public and the business community is unjustified and unfair. He urged the government to provide relief by reducing petroleum levy and other taxes instead of passing the full impact of global price fluctuations onto consumers.
Sardar Tahir Mehmood further pointed out that the increase in petroleum prices would lead to higher transportation fares, which would ultimately push up the prices of essential commodities and daily-use items, thereby intensifying inflationary pressures on the general public.
Senior Vice President Tahir Ayub noted that the industrial sector is already struggling due to high energy costs and rising operational expenses. If petroleum prices continue to increase at such a pace, it could result in higher production costs, slowdown in business activities, and potential job losses, further affecting economic growth.
Vice President Irfan Chaudhry called upon the government to adopt business-friendly policies, reduce the tax burden on petroleum products, and take practical measures to stabilize the economy and facilitate the business community.
Reaffirming the chamber’s commitment, President Sardar Tahir Mehmood said that the Islamabad Chamber of Commerce and Industry will continue to raise the concerns of the business community at every relevant forum and work closely with policymakers to promote economic stability and sustainable business growth in the country.
